SinoPac Considers Life Insurance Entry After Acquisition Spree

SinoPac life insurance expansion is under consideration as the financial group weighs a move into the sector following a series of acquisitions. President Stanley Chu said any step into life insurance would be cautious, with integration of King’s Town Bank, CL Securities Taiwan, and Cambodian microfinance lender Amret the current focus. Media reports indicate that financially troubled Mercuries Life Insurance has approached SinoPac and other firms for potential bids, though Chu declined to confirm. SinoPac posted record first-half profit of NTD12.6bn (USD412m), up 3.4% year-on-year, with revenue rising 7.8% to NTD35.54bn. Growth was driven by banking, as net interest income surged 46% to NTD17.31bn, supported by lower U.S. dollar funding costs and Amret contributions.